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What is the payout ratio for Layne Corporation

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Question - Boonme Corporation had the following information in its financial statements for the years ended 2019 and 2020: Cash dividends for the year 2020 $10,000; Net income for the year ended 2020 $93,000; Market price of stock, 12/31/19 $10; Market price of stock, 12/31/20 $12; Common stockholders' equity, 12/31/19 $1,600,000; Common stockholders' equity, 12/31/20 $1,980,000; Outstanding shares, 12/31/20 160,000; Preferred dividends for the year ended 2020 $15,000. What is the payout ratio for Layne Corporation for the year ended 2020?

a. 12.8%

b. 18.1%

c. 16.1%

d. 10.8%

e. None of these is correct

Reference no: EM132531655

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